Mortgage lenders and mortgage brokers; criminal background checks. (SB124)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Mortgage Lender and Mortgage Broker Act; criminal background checks.  Conforms provisions of Virginia's laws regarding licensure of mortgage lenders and mortgage brokers to the practice of conducting criminal backgrounds checks through the Nationwide Mortgage Licensing System and Registry. The measure eliminates an existing provision that allows a mortgage lender's or mortgage broker's members, senior officers, directors, and principals to avoid a criminal background check during the licensing phase by acquiring a licensee after the license has been issued, and permits the Central Criminal Records Exchange to disclose criminal background information to the State Corporation Commission. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/10/2012Prefiled and ordered printed; offered 01/11/12
01/10/2012Prefiled and ordered printed; offered 01/11/12 12101060D
01/10/2012Referred to Committee on Commerce and Labor
01/16/2012Reported from Commerce and Labor (16-Y 0-N) (see vote tally)
01/17/2012Impact statement from SCC (SB124)
01/18/2012Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/19/2012Read second time and engrossed
01/20/2012Bills placed in block (39-Y 0-N) (see vote tally)
01/20/2012Read third time and passed Senate (38-Y 0-N) (see vote tally)
01/20/2012Reconsideration of passage agreed to by Senate (39-Y 0-N) (see vote tally)
01/20/2012Passed Senate (39-Y 0-N) (see vote tally)
02/13/2012Placed on Calendar
02/13/2012Read first time
02/13/2012Referred to Committee on Commerce and Labor
02/16/2012Reported from Commerce and Labor (22-Y 0-N) (see vote tally)
02/20/2012Read second time
02/21/2012Read third time
02/21/2012Passed House BLOCK VOTE (100-0Y 0-N)
02/21/2012VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/23/2012Enrolled
02/23/2012Bill text as passed Senate and House (SB124ER)
02/23/2012Impact statement from SCC (SB124ER)
02/23/2012Signed by President
02/23/2012Signed by Speaker
03/08/2012G Approved by Governor-Chapter 189 (effective 7/1/12)
03/08/2012G Acts of Assembly Chapter text (CHAP0189)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 35 seconds.